David Hamilton has been promoted to executive vice president of acquisitions and inventory management at EMC Mortgage Corp., Irving, Texas, and Jo-Karen Whitlock was been promoted to senior vice president of conduit.Mr. Hamilton was promoted to EVP after 14 years at EMC, most recently as senior vice president. He has overseen various departments, including due diligence, asset evaluation, and trading support, the company said. Before joining EMC, Mr. Hamilton served on the retail originations side of the mortgage industry with such companies as The Associates, Manufacturers Hanover, Anchor Mortgage Services, and Equitable Banc Mortgage Corp. Ms. Whitlock has more than 25 years of industry experience, the last three of them with EMC. She was previously regional underwriting manager for Wells Fargo Home Mortgage, vice president of GMAC/RFC, and underwriting manager and risk manager at Fannie Mae, among other positions.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24